Business

Private-equity firm Silver Lake Partners is investing $250 million in Red Ventures, the internet-marketing company based south of Charlotte in Indian Land, S.C. Silver Lake has more than $23 billion of assets under management and has invested in technology businesses including Alibaba and Dell.

Construction spending in Cabarrus County reached $362.4 million in 2014, its highest level since 2008. The overall value of building permits has increased each year since 2010, when spending bottomed out at $182.7 million.

R.J. Reynolds Tobacco Co. plans to donate its Whitaker Park cigarette-manufacturing plant – which has been idle since 2010 – to a local, nonprofit redevelopment group that includes Wake Forest University. The Whitaker Park Development Authority has commissioned a study by the Urban Land Institute to determine the best use for the property.

Lance Trenary was named president and CEO of Golden Corral, replacing Ted Fowler who retired at the end of 2014. Trenary, 54, has been chief operating officer of the Raleigh-based restaurant chain since 2011 and has worked for the company for 29 years. Golden Corral has 501 locations in 41 states.

Shares of Asheville-based Ingles Markets closed at $40.90 on Monday, setting a record high for the grocery-store chain, and trading volume was about five times its normal pace. Ingles stock has risen about 43% over the past month.

Mercedes-Benz USA will move its corporate headquarters – and 1,000 jobs – from New Jersey to Atlanta, the company said Tuesday. Earlier media reports had indicated the automaker was considering relocating to North Carolina, specifically to the Triangle area.

Randolph County is considering spending $4.2 million for 258 acres that would make up part of a 1,200-acre megasite, which it hopes could help lure an auto manufacturer to the state. County commissioners will hold a public hearing on Feb. 2 to discuss the proposal.